Market was too volatile, but still FNO data senses bullishness as pain goes up. Time to sell more PE and less CE in Apr

Time: 8:45​​ am VIX:​​ 20.65​​ SGX Nifty:​​ ​​ 14846​​ FII:​​ -1685​​ DII:​​ +2082

 

Option Data Analysis (Apr)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

14700

1.61

14000

15000

14800 (22%)

14800 (45%)

Banknifty

34000

0.85

30000

40000

29500 (39%)

33500 (43%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

29-Apr-21

14,765.95

-147.60

-0.99%

11,308,875

142,725

1.28%

BANKNIFTY

29-Apr-21

33,538.00

-508.80

-1.49%

2,458,500

147,975

6.40%

​​ 

Nifty​​ (Over all FNO Position:​​ Range-bound with positive bias)

  • Global​​ market is​​ up​​ and SGX nifty is up

  • FII is in​​ sell​​ mode​​ 

  • Highest PE is at 14000 and highest CE is at 15000.

  • PEs are added at 14800 and CEs are added at 14800

  • More number of CEs are added than PEs

  • Max pain is at 14700 (up by 100 points)

  • PCR is not​​ changing

  • Net future Position is in Neutral

  • Time​​ to sell more PE and less CE

 

Banknifty​​ (Over all FNO Position:​​ Range-bound)

 

  • ICICI Bank is down and HDFC Bank is down in USA.

  • Highest PE is at 30000 and Highest CE is at 40000

  • PEs are sold at 29500 and CEs are​​ sold at 33500

  • More number of CEs have been added than PEs

  • Max Pain is at 34000 (No change in Max Pain)

  • PCR is not changing

  • Net future position is in Neutral

  • Time​​ for short strangle​​ with hedge

 

Executed Trades

  • Exited put calendar with Rs 7 loss​​ 

Trading​​ Plan

  • No plan

 

My Position​​ 

 

Jegathesan Durairaj, a mathematician by qualification, an Ex-software professional and now a full time Risk Defined Option Writer. With his Open Book Strategies, he is the most known identity in twitter as itjegan, with huge followers. He had won Zerodha 60 Day Challenge – 10 Times round-the-clock. He is one of the prime Option Writing Trainer and tutored close to 1000 members till now.

He is the Mastermind of CapitalZone – Active Option Trading where Traders can avail Trading Chart with customised indicators, FNO tools and Payoff analysis. His keynote is to provide whole FNO deets to be handy for Traders in a sole place.

Now he is taking more heed on hedging portfolio in Option Writing where we might subject to more market risk. He is streamlining his strategies often and improving perpetually. At this time unfolding ways to measure good-quality Trend Following System.

Conducting workshop in all Metro Cities (Delhi, Mumbai, Bangalore, Chennai and Coimbatore) often based on queries from Traders.

 

 

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